Experience is often the best teacher. And this is especially true in the business world. Experience enhances one’s natural-born skills, and true leaders constantly evolve and improve not only their businesses but their own careers as well. Learning from their experiences, both in their successes and failures, they consciously prepare themselves to make most of the opportunities and strive to grow as better leaders and decision-makers. Combining their wealth of knowledge and valuable experiences with unwavering hard work, determination, and perseverance, they write their own success story while creating value for others in the process. One such inspiring, forward-thinking business leader who is setting an instance of true entrepreneurship in the business world through his impeccable business acumen, sheer determination, and unmatchable industry experience is Tim Tez, the CEO of Medical Indemnity at Avant Mutual.
Prior to joining Avant Mutual, Tim was involved in multiple businesses, from new start-ups all the way through to multi-billion-dollar businesses over the past 25 years. With an extensive background in distribution, M&A, strategy, reinsurance, product, pricing, marketing, strategy, and government relations, he has contributed to the development and growth of several companies and the people around him. “Rather than entrepreneurship for its own sake, I believe in business for a purpose that betters the community and society. We are lucky at Avant that we have a crystal-clear purpose that many talented people deliver every day. It’s the people, not the entrepreneurship; having said that, the entrepreneurial spirit in people is important,” opines Tim.
The Illustrious Journey of Avant Mutual
Avant was born in 1893 by a group of doctors who wanted to protect themselves from actions arising out of the practice of medicine. Today, Avant has offices in all mainland states of Australia. “We remain a mutual organization, serving our members, not shareholders, ensuring our members will always be at the heart of everything we do,” affirms Tim. In 2009, Avant formed its own law firm, Avant Law to offer the best possible defense and protection to its members. With over 60 solicitors, it is now Australia’s largest specialized medico-legal law firm. In 2012, Avant acquired Doctors’ Health Fund, a health insurance firm dedicated solely to doctors and the medical community. Today, it stands tall as Australia’s leading medical defense organization with a proud heritage of protecting the Australian medical profession that spans over 125 years. “Avant has the largest and most experienced specialist medico-legal defense team in Australia. We understand the importance of providing on-the-ground support and local jurisdiction expertise, so we have solicitors and medical advisors in Sydney, Melbourne, Brisbane, Adelaide, Canberra, and Perth,” adds Tim.
Avant currently provides a range of products and services including medical defense and indemnity insurance to over 75,000 healthcare professionals and students. The organization also offers a wide selection of insurance solutions exclusively for doctors. These include coverage for medical practices and their employees, business insurance and cyber security, health insurance through the Doctors’ Health Fund, income, life, and complete permanent disability insurance, as well as travel insurance. It has also introduced PracticeHub, an online practice management platform, to make practice management easier, safer, and more efficient.
Supporting Doctors throughout Their Lives and Careers
Avant’s vision is to be a trusted protector and advisor for its members, professionally and personally. It strives to realize this vision by supporting its members so they can practice good medicine and achieve their goals. It aspires to support doctors throughout their lives and careers and work every day to protect, defend and advise them so that they can deliver safe, quality, and professional healthcare to all Australians. “We leverage the collective power of our membership, being our size, capital strength, and deep understanding of our members to create best in breed products and services that are tailored to the specific needs of our members – in doing so, we are truly ‘by doctors, for doctors’, asserts Tim.
With Avant, doctors can practice confidently, knowing that they have access to comprehensive cover comprehensive protection that’s continually evolving to meet the changing environment, award-winning defense, and industry-leading insights.
With more doctors as members, it is able to handle more calls and cases. This wealth of insights and experience helps the firm to determine the best approach for a matter and to achieve a positive outcome. Avant’s medico-legal experts are available 24/7, in emergencies, for advice to help its members reduce their complaints or claims risks.
Placing Customer at the Center
Members are the lifeblood of Avant. Tim believes that when you take care of the member, everything else falls in line after that. Thus, at Avant, he strives to create a culture focused on excellence, growth, and stability of its membership. “Our mutual structure, heritage, and ethos ensure that our members are at the center of everything we do. Our excellent value means that we strive to serve members and support them when and where they need us. Our growth value means that we seek to responsibly grow for our members’ benefit providing greater scale economies, diversification, and efficiency. Our stability value means that the long-term security for our members and the wider community is our priority,” elucidates Tim. He advises emerging entrepreneurs to always put the customer at the center and never take a customer’s trust for granted.
Values That influence Avant’s Success
Every company is driven by its core vision and facilitated by a set of core values that assist them in navigating organizational goals and achieving success. Avant is built on four core values: purpose, courage, passion, and trust. Keeping these values as the cornerstone, the organization shapes its decisions and aligns its activities to consistently deliver against its purpose and promise. The collaborative culture and work environment of mutual trust, respect, and acceptance at Avant empower its employees to maximize their potential and contribute the most to the success of the company. Avant is constantly passionate about the work and its clients while pursuing growth and learning. It maintains its commitments to the clients as well as the team and always strives to challenge, improve and innovate. Moreover, the company always act with care and integrity, embracing inclusion and doing the right thing. Working with these values in mind contributes to its success – both personally and as a team. It helps the company to build meaningful relationships, deliver for its members and accelerate its performance to reach its objectives.
Envisioning a Future of Persistent Growth
Forging ahead, Tim aspires to continue learning to grow as a person and an entrepreneur. He is quite optimistic about Avant’s future and hopes to see Avant continue its surge in growth in order to better serve its members.“We will continue to innovate and look for ways to meet our members’ needs in ways that are the most convenient for them. That will mean a more digital future. Business leaders will need to develop deep skills in AI, digital transformations, and data as a core component of the future,” concludes Tim.